Park West CEO Albert Scaglione on the Art Market’s Obsession with Picasso

Picasso Park West Museum

Picasso artwork at the Park West Museum

More than 40 years after his death, Pablo Picasso continues to make headlines, and it seems like the public’s fascination with the Spanish artist is only growing.

Picasso is currently the focus of National Geographic’s “Genius” series, starring Antonio Banderas as the famous artist. Meanwhile, the art world is buzzing with news of major Picasso auctions on the horizon. According to Bloomberg, 45 Picasso works are up for auction within the next two weeks in New York—auctions that are estimated to bring in more than $305 million. Almost $212 million of Picasso’s art has already been sold at auction this year alone.

Pablo Picasso Park West Museum

Artwork by Pablo Picasso at Park West Museum

Michigan’s Big Talk Show spoke with Park West Gallery Founder and CEO Albert Scaglione about this recent surge of Picasso art sales, drawing on Scaglione’s unmatched knowledge of nearly 50 years as a professional art dealer.

“It’s going to be a big one,” Scaglione said, when asked about the major Picasso auctions scheduled for the month of May. “We’ve not seen that before. We’ve not seen anything like that before.”

Listen to “Albert Scaglione, Founder and CEO of the Park West Gallery” on Spreaker.

Picasso’s art has often been a part of record-breaking auctions, a trend that is likely to continue.

An auction held this month featuring art from the famously wealthy Rockefeller family is expected to shatter records as the biggest estate sale in U.S. history. The Rockefeller collection includes works from legendary artists like Picasso, Claude Monet, and Joan Miró. The star of the collection is “Young Girl with a Flower Basket,” painted in 1905 by Picasso. The painting, which depicts a nude girl clutching a basket of red flowers, was estimated to sell for $100 million.

“I think if it sells at a lower price than $100 million it’ll be looked at as a bargain in this day and age,” Scaglione said.

picasso young girl with flower basket

Detail from “Young Girl with Flower Basket” by Pablo Picasso (Image courtesy of Christie’s)

On May 8, it was reported the painting sold for $115.1 million.

Additionally, on June 19, Picasso’s portrait of his notorious muse, Marie-Therese Walter, will appear on the auction block in London. The portrait sold for $3.7 million in 1997 and is expected to now fetch $45 million.

In 2015, Picasso’s “Les Femmes d’Alger (Version O)” sold for $179.4 million. This was the highest price recorded for a work of art at auction until November 2017 when Leonardo da Vinci’s “Salvator Mundi” sold for $450 million.

Park West Gallery Leonardo da Vinci Salvator Mundi

“Salvator Mundi” (Savior of the World), c. 1500, Leonardo da Vinci. Framed. Public domain. Image courtesy of Wikimedia.

While these prices are great for the art market, Scaglione argued that museums such as the Park West Museum or the Detroit Institute of Arts may now have a tougher time acquiring works by Picasso. Even so, he believes people will still be able to appreciate Picasso’s genius as museums continue to bid on his art alongside private collectors.

Park West Museum Picasso

Visitors to the Park West Museum view the Picasso gallery

If you want to see Picasso’s genius for yourself, Park West Museum has 99 works by Picasso on display, including ceramics and linocuts by the prolific artist. Admission is free of charge. Click here for information on visiting the museum.

For those looking to own a work by Picasso, contact our gallery consultants at (800) 521-9654 ext. 4 during business hours or sales@parkwestgallery.com for more information.

2 Responses to Park West CEO Albert Scaglione on the Art Market’s Obsession with Picasso

  1. Bishop Jeff Dr. says:

    I am actually looking to sell one of my Picasso’s , the
    “The Maternity”
    Any thoughts or advice?

  2. Cindy V. says:

    How much were you thinking?

Leave a comment

Prove you\'re human. *

Latest News

  • Do You Know How to Take Care of Your Art? Take Our Quiz...

    We love art, and we’re betting you do too. That is why we want to give you some expert tips on how to keep your art looking as beautiful as ...
    Read More
  • Everyone Wants to Take a Bite Out of Artist Matt Beyrer

    Artist Matt Beyrer has an uncanny knack for drawing depth and beauty out of unexpected places.

    So perhaps it’s not surprising that Beyrer’s artistic career began in an unexpected place—on a surfboard.

    Read More
  • The Strange History Behind Salvador Dalí’s “Divine Comedy”

    Salvador Dalí was an unusual choice to illustrate Dante Alighieri’s “The Divine Comedy.”Dante’s epic poem is considered one of Italy’s national treasures, a work embraced by both Italian cultural ...
    Read More
  • Collect Original Graphic Works by Salvador Dali in Our New Fall Sale

    Salvador Dalí is one of the most famous artists of the 20th century. Now you have the opportunity to collect works from the internationally renowned Surrealist in our ...
    Read More
  • Meet the Artist: 10 Questions with Patrick Guyton

    Patrick Guyton has combined his passion for ancient art techniques with a tenacious work ethic to create a truly unique body of work.Guyton’s art is a sight to behold. ...
    Read More
  • Park West CEO Provides Insight into ‘Self-Destructing’ Banksy Art

    Famous street artist Banksy has made art history by having one of his paintings elaborately destroy itself immediately after being sold for $1.4 million.The unprecedented stunt took place at Sotheby’s ...
    Read More
  • Park West Auctioneer Spotlight: Alex White

    It takes a special kind of person to head off onto the high seas to spread their love of art to travelers around the world.Alex White is one of those ...
    Read More
  • The History of Picasso Ceramics: How Picasso Changed Pottery Forever

    Between 1946 and 1973, Pablo Picasso created a breathtaking collection of original ceramic works.Over the past 50 years, Park West Museum has developed one of the largest collections ...
    Read More
  • Understanding the Delicate Process Behind the Art of Patrick Guyton

    The artistic process Patrick Guyton uses to create his art is exacting, volatile, and precarious. This may sound hyperbolic, but for Guyton, something as simple as using the wrong ...
    Read More
  • Park West Gallery Enhances the Art Experience with New Interactive Technology

    As Park West Gallery celebrates 50 years in business, it’s continuing its mission of reimagining the art world with new and innovative ways for people to interact with art.Park West ...
    Read More
  • Meet James Coleman: 10 Questions with the Acclaimed Artist

    If you’re not familiar with the name “James Coleman,” you’re definitely familiar with his work.For over 17 years, Coleman supervised the creation of the hand-painted backgrounds for some of ...
    Read More
  • Behind the Artist: Patrick Guyton

    The path to becoming an internationally renowned fine artist might not be paved in gold, and that’s fine with Patrick Guyton—he prefers to put gold to better use.Guyton’s own ...
    Read More